RARE Winchester Model 1892 “Price Pirate” Lever Rifle 44-40 WCF 18″ C&R
SOLD FOR: $2,250.00
LSB#: LSB251029CD032
Make: Winchester Repeating Arms
Model: 1892
Serial Number: The original serial number has been over-stamped with a grid and “WRACO”.
Year of Manufacture: 1892/ Antique ( )
Caliber: .44-40 WCF
Action Type: Lever Action, Full length Tubular Magazine Fed
Markings: The left side of the replacement barrel is marked “.44-40 / BARREL BY /J. DEWEY.” The bottom of the receiver is grid marked with the serial number “WRACO”. The top tang is marked “MODEL 1892 / WINCHESTER / PAT.OCT.14,1884”.
Barrel Length: 18”, Round
Sights / Optics: The front sight is a beaded blade dovetailed to the front of the barrel. The rear sight is a semi-buckhorn U-notch on an elevator, dovetailed to the barrel. The tang is drilled, tapped, and filled for a tang sight (none present)
Stock Configuration & Condition: The stocks are a 2-piece smooth wood with capped forend, straight grip, straight comb, rifle-style crescent steel buttplate. There are scattered scratches, handling marks and compression dents. The stocks have been refinished. The LOP measures 13″ from the front of the trigger to the back of the buttplate.. Overall, the stocks are in about Good condition, as refinished.
Type of Finish: Blue
Finish Originality: Refinished
Bore Condition: The bore on the replacement barrel is mirror bright with well defined rifling. There is some minor fouling towards the muzzle but there is no erosion. In this writer’s opinion the bore rates 9.5/10.
Overall Condition: The rifle retains about 90% of its refinish. There are minor polish marks from the refinish visible on the receiver. There is thinning on the leading edges of the receiver. The action shows light operational wear. The screw heads are sharp to slightly tool marked with usable slots. The markings are clear. Overall, this rifle is in Very Good condition for a refinish.
Mechanics: The action functions correctly. The hammer has a half-cock safety position. The trigger is crisp. We did not fire this rifle. As with all used firearms, a thorough cleaning may be necessary to meet your maintenance standards.
Box, Paperwork & Accessories: Leather scabbard
Our Assessment: Among Winchester collectors, so-called “Price Pirate” rifles occupy a narrow and fascinating corner of factory history, tied directly to the company’s efforts to control retail pricing at the turn of the 20th century. During this period, Winchester enforced strict dealer pricing policies, and firearms sold below authorized prices were considered violations. When such rifles were returned to the factory for service or warranty work, Winchester sometimes took the extraordinary step of deliberately obliterating the original serial number and overstamping the receiver with a distinctive grid pattern and the marking “WRACO,” effectively severing the gun’s traceable retail origin. Author James Madis in “The Winchester Book” asserts that this was a short-lived practice performed by Winchester on firearms returned which had a removed or illegible serial marking between 1900 and 1903. Madis explains that some retailers were violating Winchester’s pricing policy and selling guns below authorized prices.
The Model 1892 was one of Winchester’s most successful lever action designs, valued for its compact size, smooth action, and strength when chambered for popular cartridges such as .44-40 Winchester Center Fire. Price Pirate examples of the Model 1892 are especially scarce, as relatively few rifles were subjected to this serial number obliteration process. The overstamped WRACO marking and grid pattern on the receiver are factory-applied identifiers when the rifle was returned for service, making these rifles immediately recognizable and highly unusual survivors of Winchester’s internal business practices rather than routine production arms.
This particular rifle combines that unusual factory history with a practical, well-executed re-barreling and refinished configuration, featuring an 18 inch round barrel, strong mechanical function, and a bright bore in the replacement barrel. While refinished and altered from its original configuration, the rifle remains a compelling historical artifact, valued less for originality and more for its documented connection to Winchester’s pricing enforcement era. As a genuine Price Pirate Winchester, it represents a rare convergence of corporate policy, factory procedure, and frontier-era firearm production that appeals strongly to advanced Winchester collectors, Please see our photos for a better understanding of condition and good luck with your bids!
BF